Tuesday, May 4, 2021

Two Huge Wells Being Reported Today -- May 4, 2021

Sell in May, go away: market futures down -- could be worst day for the market this year. AAPL plunges. Shares fall almost $5/share; now trading well below $130. Epic scare?

Hand-wringing? 10-year Treasury now drops below 1.6%.

Dividends are back: CNBC; in the month of April --

  • 33 companies raised dividends
  • 11 companies reinstated dividends
  • average dividend increases are up 5%

TSLA: continues with orderly slide; now trending toward $675.

Great day to be diversified. Warren Buffett is probably looking at CVX today.  

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here

Boom! The energy sector is beating earnings expectations by an average margin of 335%, hiking dividends while doing so -- oilprice headline today. 

COP: beats by 16 cents; beats on revenue, link here; here; and everywhere. 

  • will sells its Cenovus Energy in the open market, orderly sale by year-end 2022 (next year)
  • proceeds to fund incremental COP share repurchases;
  • EPS: 75 cents/share vs a loss of $1.60/share one year ago (this is the wrong quarter to compare)
  • revenue: more than doubled to $10.56 billion from $4.81 billion a year earlier (wrong quarter to compare; the quarter to compare: 1Q19)
  • but will COP increase its dividend? LOL. Nope. Keeps dividend at 43 cents/share. Disappointing.
  • of record: May 14; payable: June 1, 2021

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here

FWIW: Saudi Aramco reports profit; "confirms" $18-billion dividend. 

Ford: boom! April sales up 64%. 


  • vaccine hesitancy is real: The WSJ; West Virginia to offer monetary rewards for those who now get vaccinated;
  • West Virginia was the US leader in vaccines; has now hit a wall -- CNBC interview WV gov yesterday;
  • Denmark ditches JNJ's vaccine; AstroZeneca was banned last week; first country to ban JNJ's vaccine;
  • not safe in Denmark: safe in US;
  • vaccine so effective, TSA extends mask mandate for those who have been fully vaccinated

Back to the Bakken

Active rigs:

Active Rigs1627646250

Two wells coming off the confidential list --

Tuesday, May 4, 2021: 7 for the month, 31 for the quarter, 112 for the year:

  • 36919, F/A, MRO, Klemstead USA 44-5TFH, Reunion Bay, first production, 11/20; t--; cu 146K 3/21;
  • 36605, F/A, Hess, EN-Anderson-LE-156-94-1820H-6, Manitou, first production, 11/20; t--; cum 135K 3/21;

RBN Energy: Corpus Christi's ship channel dredging will streamline crude oil exports

Since the long-standing ban on most exports of U.S. crude oil was lifted more than five years ago, major ports and marine terminals along the Gulf Coast have been competing fiercely for the business of crude shippers. The primary weapons in this battle for barrels have been the abilities to provide easy pipeline access to the Permian and other key production basins, ample storage near the water for blending and staging, and top-notch dock facilities for quickly, efficiently loading crude onto tankers, the bigger the better. On that last point, for many shippers the vessel of choice is a 2-MMbbl VLCC, which typically offers the lowest per-barrel cost for long-distance oil delivery. Crude-laden VLCCs are “low riders” that need deep water, though, and so far only the Louisiana Offshore Oil Port can fully load one. Within a year, though, thanks to a long-awaited Corpus Christi Ship Channel dredging project now under way, marine terminals in Ingleside, TX, will be able to do the next-best thing: loading up to 1.6 MMbbl onto VLCCs, and thereby reducing the need for offshore reverse lightering. Today, we discuss the project to deepen the channel to 54 feet and its impact on crude exports.

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